What is EvedPay?
EvedPay is a digital payment solution. EvedPay is becoming the preferred method of payment for the world's leading Fortune 500 companies and is accepted globally by 20,000+ suppliers.
INVOICE
Golden Catering Inc.
Total: $330,500.00
How is EvedPay Beneficial to my Company?
EvedPay brings a new level of automation and data to the payment process, while also making it easier for suppliers to do business with their clients. By opening an EvedPay Merchant Account, suppliers can boost sales and unlock many benefits:
Marketing Opportunities
- •Your profile can be viewed by thousands of professionals who use Eved to find suppliers
- •Say "YES" to more clients by accepting their preferred payment method
Easy, On-Time Payments
- •Less than 10 minute set-up process!
- •Receive direct deposit of payments via ACH or wire
- •Top-rated supplier support via phone and email
No Hidden Fees
- •Competitive merchant rates compared to traditional credit card fees
- •No set up fees, monthly fees, termination fees, or charge-backs
Real-Time Payment Data
- •Consolidated data for financial reporting and forecasting
- •Increased visibility with 24/7 access to payment status
How to Set Up Your Merchant Account
Is there a cost?
There is no cost to open an EvedPay Merchant Account. Similar to how credit cards work, you pay a merchant fee only when a payment is processed. Rates range from 1.8% – 3% based on overall spend volume.
| Annual Sales Threshold | Merchant Rate |
|---|---|
| Up to $1,000,000 | 3.00% |
| $1,000,001 – $5,000,000 | 2.80% |
| $5,000,001 – $25,000,000 | 2.60% |
| $25,000,001 – $50,000,000 | 2.40% |
| $50,000,001 – $100,000,000 | 2.20% |
| $100,000,001 – $200,000,000 | 2.00% |
| $200,000,001+ | 1.80% |
How do I open my Merchant Account?
Opening an account is easy — takes less than 10 minutes. Sign up at eved.com/vendors:
- Create user name and enter business information
- Add your bank account
- Accept EvedPay's terms and conditions
- Upload the relevant tax form
- Provide finance contact (optional)
Is this safe to do?
Over 20,000 suppliers globally already accept EvedPay, from the major hotel chains to restaurants and local suppliers around the world. All account information is encrypted and payments are securely made via the ACH and global wire systems.
Does this impact my existing processes?
Not at all! You will continue to invoice your client per your normal process. Your customer will then initiate payment against your invoice, based on your agreed upon payment terms, and the payment will settle in your account.
Why didn't I receive full payment?
EvedPay has a merchant fee similar to a credit card fee. However, unlike some credit cards where you receive the full amount invoiced and then are charged at a later date for the merchant fee, we process the payment and fee all at once. You'll therefore receive the net amount of the invoice minus the merchant fee.
How do I account for the EvedPay merchant fee?
For accounting purposes, credit the full invoice amount to your sales account then deduct the EvedPay merchant fee from the same account used to deduct credit card fees. Eved provides a payment remittance at time of payment processing for proper accounting.
How do I get started?
Signing up takes 10 minutes. Accept your customer's preferred payment method and grow your business.
Create Merchant AccountOr visit eved.com/vendors to learn more
Need assistance? Email: Help@eved.com
Support Hours & Phone Numbers: eved.com/contact